Rupee hits record low, pressured by persistent outflows and NDF maturities
The Indian rupee slipped to an all-time low for the fourth consecutive session on Tuesday, pressured by dollar bids spurred by the likely maturity of positions in the non-deliverable forwards market and persistent portfolio outflows.
The rupee slipped to an all-time low of 90.82, eclipsing its previous record low of 90.7875 hit on Monday.
The currency is among the worst performing emerging market currencies globally this year and has declined 6 per cent against the US dollar, sapped by the drag from steep US tariffs on Indian exports alongside weak portfolio flows. REUTERS
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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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